Australia's agribusiness sector bought $18 Bn revenue last year

 

Agriculture is a major contributor in the Australian economy. Australia is a major producer and exporter of cereals crops globally. According to Australia import export data, the country's overall agriculture, forestry and fisheries products exports hit a record $80 billion during fiscal year 2023. Australia nearly exported 70% of its agricultural production last year.

From $40 billion to $80 billion, Australia's agricultural industry has come a long way. Grains, oilseeds and pulses are the major contributors in Australia's agricultural exports registering 10% growth every year. Whereas, meat, live animals, fruits and vegetables accounted for 5% and 4% share respectively. 

Australia export data shows nearly $18 billion in earnings were recorded last year. The key Australian exports includes sugar, beef, mutton, lamb, canola, wheat, rice, dairy products, and poultry items. Australia's top performing export products, sugar (80%), beef (75%), mutton (76%), canola (60%), wheat (64%), rice (90%), dairy products (36%), fruits & nuts (31%) and poultry (5%).

Rice was the most profitable agricultural export from Australia with exports rising to 280 MMT last year. The main markets for Australia's rice exports were South Africa, and New Zealand. Whereas, wheat which is the main export of Australia registered $16 billion in 2023. Australia was the third biggest exporter of wheat last year.

Indonesia, China, Vietnam and Philippines were the biggest wheat importers from Australia with a notable amount of shipments last year. Australia’s canola exports saw record growth with exports recorded to be $5.6 billion in 2023. Other valuable exports of Australia were meat ($17 billion), diary products ($1.2 billion), poultry ($241 million), and fruits & nuts ($53 million).

Whereas, Australia's fishery and fishery items exports are estimated to be $1.5 billion in 2023. Atlantic salmon, rock lobster, southern bluefin tuna, trout fish, crustaceans, abalone, scallops, shrimps and prawns are the key exports of Australia. The biggest importers of Australian seafood were notably China, Japan, Singapore, Japan, Vietnam, India, United States and New Zealand.

Tassal Operations, Huon Aquaculture and Mulwarra Export were the biggest seafood export companies from Australia in terms of maximum shipments. Whereas, the country's forestry items exports saw minimal decline in 2023. As per Australia customs data, over $2.75 billion Australian dollars last year. These include timber, sawnwood, furniture, paper and paperboard. 

The most favoured destinations for Australia's forestry items exports were China, United States, Japan, South Korea and ASEAN nations. Ops Forestry and Mckay Timber were among the leading forestry products export companies from Australia. On the other hand, Australia import data suggests the country’s top agricultural imports were seafood, bakery items, animal/vegetable fats, oils, processed fruits and vegetables, etc.  The most prominent markets for Australia's agricultural goods imports were New Zealand, United States, Singapore, China and Italy.

Businesses which are in the export import sector from Australia can gather market intelligence through global import export data provider. They can analyze the demand for their agricultural products, price forecasts, prominent marketplaces, top import export companies and ports container volumes. All this information could help companies model their product as per global market, set competitive pricing, evaluate production quantity, and reach out to the potential customers. Global market data could lend Australian buyers more leads and generate more ROI.